34 Woodlawn Ave

South Glens Falls, NY 12803

$309,000D

3 bd · 1.0 ba · 1,358 sqft · Built 1964 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,439/mo
• Mortgage (P&I): −$1,620
• Tax + insurance: −$457
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $-940/mo
• Annual: $-11,286/yr
• Cap rate: 2.64%
• Cash-on-cash: -13.04%
• DSCR: 0.42
• 1% rule: 0.47%
• Cash to close: $86,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $309k.
• At list price, monthly cash flow is $-940 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (53.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (53.4% below list).
• It's been on market 94 days — a 9% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (53.8% below list) — sets the bar for cash-flow.
• In year one you build about $27k of equity ($2k loan paydown + $24k appreciation (7.9% local appreciation)).
• Location reads 73/100 on livability (#331 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F, commute F.
• South Glens Falls Central School District (suburban): math 49% / reading 59% proficiency, ranked #307 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.